New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-07-29
CLOSING PRICES OF B0sroy srook&
BOSTON. July %, 1897
THURSDAY, July 2S-P. NJ.

Yesterday briefly referred to the statement OF New
York. Lake Erie and Westerns business for fhe nine
months ended June 80 and noted that Its net earnings In
that period $723O00 than the amount Of Its
first charges and $4l3,o00 more than nine months
dividend Its preferred stock. Every month Of the
year the Erie Railroad has shown gain both In
gross and earnings the months Of the pre-
cedlng year, although the work Of making good the
neglect OF past arrangements is still going The ratio
OF operating expenses to gross earnings In the last
month OF June 20 per cent When this work Is
completed and the condition has been brought up
the standard Of the ideas Of the present management
there will be why the Erie cannot he operated
as cheaply any other Of the trunk lines Last year
from July to September go the net earnings for the
company were 5I9,3o4. Give to the remaining three
months OF the companys fiscal year. gain In net earn
ings Of only $4,000 per month and the years business
will result In a surplus first charges OF 100000 or
$is7.0O0 than sufficient to pay per cent divi-
dcnd on the preferred stock.
Now the Pennsylvania Railroad with its June
report showing gain in net earnings ON Its main line OF
100000 over June, 1886, and $606,0OO over June,
1885, Including the leased lines west OF Pittsburg its
profits for June greater than in june 1885,
and S93000O greater than in June, 1855. For the six
months ended June 3d. the pronts Of the whole system
100000 greater than in 1886, and $3,6o0,o00
greater than In 1885.
And then comes Philadelphia and Reading showing
gain In net earnings for June over June, 1886. OF
S5l2,216-more than 100 per cent-and for the seven
months ended June 80. gain OF Ut over ITO
per cent There may be carping about the method
OF reducing the expenses If the Reading amounting to
S739,O7O for tho seven months-snd In view Of the
management OF indianapolis, Bloomington and Western
shall say the carpDg is not Justihable-but there
remains the ndisputable increase OF gross earnings
amounting to 566.333 which, leaving out any reduc-
ton in the operating expenses still will give an increase
IN the net earnings Of per cent which is good
enough higher figures for the stock than
selling at
The pontof these IL in their reflection OF
the great and unapprecated advances In general bust
ness while the Stock Exchange permits it's business
be driven away by manipulation and concerted weav-
log OF erroneous and absolutely fase-shall we say
known to be false by their Observation-Disclosures about
the rreasurys connections with the money markets OF
the country.
4 Todars stock market opened generally higher than
last evenings closing ngures, being influenced by mod
crate buying orders London After those orders had
been executed renewal OF the raids which
have been the the past few days But to-day
there was systematic method In the business the raids
were violent and IA spots giving to the early market tho
appearance OF unusual rregulsrity But for the first
time In week there a resistance offered to further
depression, so that the stocks particularly raided
quickly their additional losses while hrmness
was apparent where depressing forces not at
work Evidently the bears /" to-day made strenuous
efforts ~ cover their contracts but 1t Is not clear that
much success was with. although It is certain that
here and there some small quantities OF stocks were
secured stop orders In the afternoon tie market
ruled strong all the way out although closing something
of from the best figures. 80
Government bonds were dull and easy with the bids
for the a OF "a per cent The Harvey Fax circular
OF evidently did not convince people
which IL has not cot IN purchasing Donds Inc cIoshS
quotations are as foliows